Former managing director for Morgan Stanley, Caitlin Long, has joined the smart contract firm, Symbiont.
Long brings 22 years of Wall Street experience to Symbiont. Most recently serving as the managing director in global capital markets at Morgan Stanley for eight years. Long studied different blockchain startups for over two years while working on the financial corporation’s distributed ledger technology group. This April (2016), she left Morgan Stanley.
“I chose to join Symbiont because we have the best technology platform for financial sector uses, and we have a great strategy. Our software works. It’s fast. It’s secure. It does many things competing platforms cannot do. Ours is the only smart contracts platform that was purpose-built for institutional financial markets. We’re ahead of our peers in the race to build production-ready software, because it’s already going into production,” Long wrote in a post.
Symbiont appointed Long as president and chairman of its board of directors. Mark Smith will remain as the company’s CEO.
Corporations within Wall Street have resisted any involvement with the revolutionary technology. However, many are beginning to see its potential and are leaving Wall Street to establish their own blockchain startup. Most notably, Blythe Masters. The former executive for JPMorgan Chase turned down an offer to run an investment bank for Barclays to continue working with her own blockchain startup, Digital Asset Holdings.